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Annual Report - Financial Statements

 

Year End 2007 Independent Auditor's Report (5MB PDF)

2006 Sales of Electricity Data
Customer Class	Accounts	kWh Sold	$ Revenue
Regular Residential	11,675	174,530,957	$13,258,154
Seasonal Residential	5,838	41,046,245	3,625,683
Small Commercial	2,022	79,636,080	5,424,801
Large Commercial	73	40,001,840	2,252,097
Industrial	13	76,673,352	3,537,715
Lighting		4,769,779	386,407
Total	19,621	416,658,253	$28,484,857

2006 Expenses (%)
Power Supply Expense	54.7%
Operating Expense	33.3%
Depreciation	6.3%
Taxes	2.7%
Interest on Long-Term Debt	3.0%
	100.0%

2006 Sales of Electricity (%)
Regular Residential	46.5%
Seasonal Residential	12.7%
Small Commercial	19.0%
Large Commercial	7.9%
Industrial	12.4%
Lighting	1.4%
	100.0%

Operating Statement
Revenues:		2005	2006
	Sales of Electricity	$27,841,349	$28,484,858
	Other Sales Revenue	414,662	365,221
	Interest & Other Income	314,595	460,530
Total Revenues		$28,570,606	$29,310,609
Expenses:
	Power Supply Expense	$14,860,191	15,078,891
	Operating Expense	9,851,925	9,174,587
	Depreciation	1,647,211	1,732,213
	Taxes	687,778	747,534
	Interest on Long-Term Debt	710,559	813,699
Total Expenses		$27,757,664	$27,546,924
	Net Margins	$812,942	$1,763,685

Balance Sheet
Assets:		2005	2006
	Net Utility Plant	$45,720,456	$48,258,503
	Reserve Funds	4,430,156	4,544,103
	Current Assets	9,106,562	7,633,271
	Other Assets	2,681,750	1,929,355
Total Assets		$61,938,924	$62,365,232
Liabilities:
	Long Term Debt	$21,004,000	$19,992,708
	Other Liabilities	6,229,972	5,903,887
Total Liabilities		$27,233,972	$25,896,595
	Restricted Net Assets	4,215,403	4,279,945
	Unrestricted Net Assets	30,489,549	32,188,692
Total Liabilities & Equity		$61,938,924	$62,365,232